Pending Home Sales at Highest Level since 2006

Karen A. Sweatlock

www,YourNaplesHome.com

June/July Events:

June 27thSummer Jazz at the Naples Beach Hotel & Golf Club 
June 27thEverglades City Celebrates Independence Day
July 18thSummer Jazz at the Naples Beach Hotel &  Gulf Club

Pending Home Sales at Highest Level since 2006

WASHINGTON – May 28, 2015 – Pending home sales rose in April for the fourth straight month and reached their highest level in nine years, according to the National Association of Realtors® (NAR). All four major regions saw increases.
The Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 3.4 percent to 112.4 in April from a slight upward revision of 108.7 in March – a year-to-year 14 percent increase.
The increase in the number of April pending sales is the largest annual increase since September 2012. The index has now increased year-over-year for eight consecutive months, and it’s at its highest level since May 2006.
“Realtors are saying foot traffic remains elevated this spring despite limited – and in some cases severe – inventory shortages in many metro areas,” says Lawrence Yun, NAR chief economist. “Homeowners looking to sell this spring appear to be in the driver’s seat, as there are more buyers competing for a limited number of homes available for sale. As a result, home prices are up and accelerating in many markets.”
Following April’s decline in existing-home sales, Yun expects a rebound heading into the summer – but the likelihood of meaningful gains will depend on a much-needed boost in inventory and evidence of moderating price growth now that interest rates have started to rise.
“The housing market can handle interest rates well above 4 percent as long as inventory improves to slow price growth and underwriting standards ease to normal levels so that qualified buyers – especially first-time buyers – are able to obtain a mortgage,” Yun says.
After falling four straight months, the PHSI in the Northeast bounced back solidly (10.1 percent) to 88.3 in April, and is now 9.4 percent above a year ago. In the Midwest, the index increased 5.0 percent to 113.0 in April, and is 13.3 percent above April 2014.
Pending home sales in the South rose 2.3 percent to an index of 129.4 in April and are 14.8 percent above last April. The index in the West inched 0.1 percent in April to 103.8, and is 16.4 percent above a year ago.
NAR forecasts that total existing-home sales in 2015 will be around 5.24 million, an increase of 6.1 percent from 2014. The national median existing-home price for all of this year is expected to increase around 6.7 percent. In 2014, existing-home sales declined 2.9 percent and prices rose 5.7 percent.

© 2015 Florida Realtors® 

 
Visit here for source of Article.
 

In April, U.S. Home Prices = Market Value 

IRVINE, Calif. – May 28, 2015 – Are home selling prices below, above or about equal to homes’ fair market value? According to RealtyTrac’s April 2015 U.S. Home Sales Report, the U.S. market has hit a balance – overall, selling prices generally equal fair market prices.
In Florida counties with enough data to be included in the report, the results are similar. Only one county, Leon, has selling prices greater than fair market prices, and the difference is only 1 percent. All other counties except Escambia have selling prices that are within at least 93 percent of fair market value.
“Nationwide in April, single family homes and condos sold for almost exactly 100 percent of their estimated full market value on average – indicating a good balance between supply from sellers and demand from buyers,” says Daren Blomquist, vice president at RealtyTrac. “At the local level, however, most markets tipped in favor of either sellers or buyers – although there were some Goldilocks markets exhibiting a ‘just right’ balance between buyers and sellers.”
Local Sales Price to Value by County:
  • Lee: $191,555 avg. sale price – 98% of market value
  • Collier: $309,114 avg. sale price – 97% of market value
 
 
“We are in a strong balanced market tipping toward a seller’s market,” says Mike Pappas, CEO and president of the Keyes Company covering South Florida. “Even our waning distressed inventory prices are popping and selling above the appraisal price.”
Nationwide price-to-value trends
Higher than fair market value: Out of 315 counties with a population of at least 100,000 and at least 100 sales in April, 85 (27 percent) had homes that sold, on average, for at least 101 percent of their estimated full market value. At the top of the list: Alameda and San Francisco counties in California with average sale prices that were 108 percent of the estimated full market values.
Below fair market value: Out of the same 315 counties, 186 (59 percent) had homes that sold, on average, for less than 100 percent of their estimated full market value. The lowest price-to-value area: St. Louis City, Missouri at 77 percent.
Balanced market values: Out of 315 counties, 44 (14 percent) had homes that sold, on average sold for 100 percent of their estimated full market value.
To view the entire article visit here.

Ten Things to Try in your Room when it Needs Something

Get a fresh perspective with these tips for improving your room’s design and decor

Room feeling cramped, artwork a mess, color scheme missing the mark? Whatever ails your room, sometimes all that’s needed is a careful tweak or two to bring things back into balance. Here are seven common dilemmas and 10 remedies to put things right.

Visit Houzz to view these great tips!


Featured Listings:

114 Westwood Drive
Palm River Estates
$775,000

380 Sharwood Drive
River Oaks of Palm River
$749,500
 

492 Saddlebrook Lane
Horse Creek Estates
$725,000

330 Country Club Drive
Palm River
$625,000

213 Viking Way
Palm River
$475,000

123 Flamevine Drive
Palm River Estates
$349,500

431 Saddlebrook Lane
Horse Creek Estates
Lot
$199,500

To view more Information on these Properties please visit here.
Posted in Uncategorized | Leave a comment

Buyers Shift Focus to Condominium Market

Naples, Fla. (April 17, 2015) – Overall activity in the Naples area real estate market across all price categories remains steady, according to the First Quarter 2015 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). Most notable in the report was the $300,000 – $500,000 price category for condominiums in which the overall closed and pending sales increased by double digits in the first quarter of 2015. Statistics show a recent shift in buyer focus from single-family homes to condominiums.

Broker analysts reviewing the First Quarter 2015 Market Report agree that a new trend may be emerging, as the report showed condominiums outperforming single-family home sales. As such, these analysts predict condominiums will see continued rise in activity moving into summer.

“Pending and closed sales in the mid-level price range [$300K – $500K] for both March and first quarter outperformed all other areas of the market,” said Phil Wood, President & CEO of John R. Wood Properties.  “Perhaps this is reflective of vacation home buyers who want a place to escape the winter weather. Condos are the easiest way for them to do so, since exterior maintenance issues are handled by the associations.”

“The difference in performance between the single-family home market and condo market in the $300,000 -$500,000 price category for the first quarter is quite impressive,” said Steve Barker, Advising Broker for Equity Realty. “Pending sales for condominiums in the $300,000 – $500,000 price category increased 53 percent. Yet, while the single family home market is very good, pending sales for single-family homes in this same price category increased only half that, at 26 percent.”

Supporting analysis presented by Cindy Carroll SRA, with the real estate appraisal and consultancy firm Carroll & Carroll, Inc., at NABOR®’s Economic Summit earlier this month, several brokers including Kathy Zorn, Bill Coffey and Mike Hughes pointed out that the First Quarter 2015 Market Report indicated location as a big factor in home sales activity.

Hughes remarked that, “the overall median closed price in all geo-specific areas of the county increased double digits compared to the same quarter last year.” Zorn added, “in both the Central Naples and South Naples areas, the median closed price rose 17 percent compared to the first quarter of 2014.”

Overall inventory for the $300,000 – $500,000 price category in the first quarter of 2015 increased 14 percent from 934 homes in the first quarter of 2014 to 1,061 homes in the first quarter of 2015. Only the inventory in the over $2 million price category had a larger increase – 18 percent – expanding from 400 homes in the first quarter of 2014 to 471 homes in the first quarter of 2015.

“The number of people paying cash for their homes remains strong,” said Barker, who added, “a stunning 73 percent of all home sales in the first quarter of 2015 were cash-only purchases. Strict lending standards combined with low inventory continue to give the advantage to cash buyers in this housing market.”

“We also see that in March, traditional sales dominated the market at 91 percent,” said Bill Poteet, owner and broker at Poteet Properties. “There were 921 traditional sales and only 19 non-traditional [short sale and/or foreclosed] sales.” He went on to note that March’s market performance is typically a leading indicator of the trend we can expect going in to the summer.

The NABOR® 1Q 2015 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® 1Q 2015 sales statistics are presented in chart format, including these overall (single-family and condominium) findings:

  • Overall pending sales increased 3 percent from 3,532 in 1Q 2014 to 3,628 in 1Q 2015.
  • Pending sales in the single-family home market increased 5 percent from 1,563 single-family homes in 1Q 2014 to 1,634 single-family homes in 1Q 2015.
  • Pending sales in the condominium market increase 1 percent from 1,969 condominiums in 1Q 2014 to 1,994 condominiums in 1Q 2015.
  • Overall closed sales decreased 4 percent from 2,409 in 1Q 2014 to 2,312 in 1Q 2015.
  • Closed sales for single-family homes decreased 13 percent in the $0 – $300,000 price category from 473 single-family homes in 1Q 2014 to 412 single-family homes in the 1Q 2015,
  • Closed sales for single-family homes increased 14 percent in the $300,000 – $500,000 price category from 264 single-family homes in 1Q 2014 to 300 single-family homes in 1Q 2015.
  • Overall median closed price increased 13 percent from $265,000 in 1Q 2014 to $300,000 in 1Q 2015.
  • Overall median closed price for homes over $2 million increased 11 percent from $2,877,000 in 1Q 2014 to $3,200,000 in 1Q 2015.
  • Median closed price for condominiums in the $2 million and above price category decreased 13 percent from $2,775,000 in 1Q 2014 to $2,405,000 in 1Q 2015.
  • Overall inventory decreased 3 percent from 4,405 homes in 1Q 2014 to 4,253 homes in 1Q 2015.
  • Inventory of single-family homes in the $0 – $300,000 price category decreased 28 percent from 537 single-family homes in 1Q 2014 to 385 single-family homes in 1Q 2015.
  • Inventory of single-family homes in the $500,000 – $1 million price category increased 21 percent from 529 in 1Q 2014 to 640 in 1Q 2015.
  • Inventory for condominiums in the $2 million and above price category increased 77 percent from 39 in 1Q 2014 to 69 in 1Q 2015.
  • Average days on market decreased 11 percent from 95 in 1Q 2014 to 85 in 1Q 2015.

The NABOR® March 2015 Market Report was also released and reflected these overall (single-family and condominium) findings:

  • Overall pending sales increased 9 percent from 1,399 homes in March 2014 to 1,520 homes in March 2015.
  • Overall closed sales increased 3 percent from 981 homes in March 2014 to 1,014 homes in March 2015.
  • Overall median closed price increased 12 percent from $248,000 in the 12-months ending March 2014 to $278,000 in the 12-months ending March 2015.
  • Overall median closed price in the $0-$300,000 category increased 9 percent from $165,000 in the 12-months ending March 2014 to $189,000 in the 12-months ending March 2015.
  • Overall inventory decreased 3 percent from 4,405 homes in March 2014 to 4,253 in March 2015.
  • Average days on market decreased 16 percent from 94 days in March 2014 to 80 days in March 2015.

“The statistics show that the lower the price category, the faster the home will sell and the higher the price category, the longer it takes to sell,” said Brenda Fioretti, Managing Broker at Berkshire Hathaway HomeServices Florida Realty. “For example, homes in the $0 – $300,000 price range sold in an average of 64 days in the first quarter of 2015, while homes in the over $2 million price category stayed on the market 152 days before they sold.”

The First Quarter 2015 and March 2015 Market Reports reflect exactly what all three economic experts predicted at NABOR®’s 4th annual Economic Summit: that the real estate industry in Florida is very good and will continue to stay very good through 2015.

To read the full report please go to NABOR’s page here.

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Secrets to Selling a Second Home

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Karen A. Sweatlock
ksweatlock@johnrwood.com
239.860.5137

April/May Events:

April 26th: Taste of Collier at Bayfront
April 27th- May 10th: ArtsNaples World Festivals, various locations
May 9th: The Great Dock Canoe Races, race starts at The Dock at Crayton Cove
 

Average rate on 30-year mortgage drops to 3.75%

Average long-term mortgage rates have fallen for the first time in four weeks and remain near historic lows reached in May 2013.

Mortgage giant Freddie Mac said Thursday that the national average for a 30-year, fixed-rate mortgage fell to 3.75 percent from 3.80 percent last week.
The rate for a 15-year mortgage, popular with homeowners who refinance, fell to 3.03 percent from 3.07 percent last week.
A year ago, the average 30-year mortgage stood at 4.28 percent and the 15-year mortgage at 3.32 percent. Mortgage rates have remained low even though the Federal Reserve in October ended its monthly bond purchases, which were meant to hold down long-term rates.
Economic weakness around the world has lured global investors to the relatively strong U.S. economy. They’ve bought Treasurys and pushed the yield on the benchmark 10-year Treasury note down to 2.11 percent from 2.79 percent a year ago.
The Fed continues to keep short-term rates near zero. Fed Chair Janet Yellen delivered the central bank’s semiannual economic report to Congress last week and indicated that the Fed is still willing to be “patient” before raising short-term rates.
The Fed is worried about weak wage growth and inflation well below its 2 percent target.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country at the beginning of each week. The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fee for a 30-year mortgage was 0.6 point, unchanged from last week. The fee for a 15-year mortgage also remained at 0.6 point.
The average rate on a five-year adjustable-rate mortgage fell to 2.96 from 2.99 percent. The fee was stable at 0.5 point.
For a one-year ARM, the average rate was unchanged at 2.44 percent. The fee remained at 0.4 point.
View article here.

The secrets to selling a second home

March 24, 2015 – According to the National Association of Realtors®, vacation-home sales in 2013 increased nearly 30 percent, while sales of investment homes slipped 8.5 percent. Real estate agents specializing in the vacation-property market – a big niche in retirement-friendly Florida – say that these buyers have a different style than clients seeking a place to live full time.
They stress the importance of conveying the story of a home, the surroundings and the community if clients are looking for a second home – “Doing whatever it takes to get that ‘magical’ picture to portray the feeling of the property … is still probably the single most important thing when it comes to marketing,” says Joe Burns of Country Homes Real Estate in New Hampshire.
Julie Toon Timms of Hilton Head Island Real Estate Brokers in South Carolina emphasizes the need for patience.
“With a vacation or investment property, it’s not a matter of needing a roof over one’s head, and I find many buyers taking a long time, sometimes years, before making the final decision,” she says.
Timms says building a genuine relationship is crucial. Since many vacation-property owners rent out their homes, agents should provide them with data on cash flows and rates of return, among other information.
Additionally, agents should have first-hand experience living in the area, a deep-seated love for the community, and the ability to truly listen to the wishes of their clients in order to succeed in the vacation home niche.
View Article here.

Pending home sales rise 3.1% in Feb. despite weather

 
March 30, 2015 – In February, pending home sales increased to their highest level since June 2013 as sizeable gains in the Midwest and West offset smaller declines in the Northeast and South, according to the National Association of Realtors® (NAR).
 
The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 3.1 percent to 106.9 in February from a slight downward revision of 103.7 in January. It’s now 12.0 percent year-to-year – since February 2014’s 95.4.
 
The index is at its highest level in almost two years, since June 2013 (109.4). Pending sales have increased year-over-year for six consecutive months and remained above 100 – considered an average level of activity – for the 10th consecutive month.
 
“Pending sales showed solid gains last month, driven by a steadily-improving labor market, mortgage rates hovering around 4 percent, and the likelihood of more renters looking to hedge against increasing rents,” says Lawrence Yun, NAR chief economist. “These factors bode well for the prospect of an uptick in sales in coming months. However, the underlying obstacle – especially for first-time buyers – continues to be the depressed level of homes available for sale.”
 
According to NAR’s monthly Realtors Confidence Index, the percent share of first-time buyers increased slightly for the first time since November 2014, rising from 28 percent in January to 29 percent in February.
 
“Several markets remain highly competitive due to supply pressures, and Realtors are reporting severe shortages of move-in ready and available properties in lower price ranges,” says Yun. “The return of first-time buyers this year will depend on how quickly inventory shows up in the market.”
 
The Pending Home Sales Index in the Northeast fell 2.3 percent to 81.7 in February, but it’s 4.1 percent above a year ago. In the Midwest, the index leaped 11.6 percent to 110.4 in February. It’s now 13.8 percent above February 2014.
 
Pending home sales in the South decreased 1.4 percent to an index of 120.2 in February, but they remained 10.8 percent above last February. The index in the West climbed 6.6 percent in February to 102.1 and is now 18.3 percent above a year ago.
 
NAR forecasts total existing-homes sales in 2015 to be around 5.25 million, an increase of 6.4 percent from 2014. The national median existing-home price for all of this year is expected to increase around 5.6 percent. In 2014, existing-home sales declined 2.9 percent and prices rose 5.7 percent.
 
View the article here.

 
Featured Listing 
380_Sharwood_DR-Front
380 Sharwood Drive
River Oaks of Palm River
$775,000
Visit here to view more information on this property.
163 Westwood Drive
Palm River Estates
$315,000
163 Westwood Drive

Visit here to view more information on this property

 
492 Saddlebrook Lane
Horse Creek Estates
$725,000
Front
Visit here to view more information for this property
213 Viking Way
Palm River
$484,500
Pool
 
View here to view more information for this property
330 Country Club Drive
Palm River
$625,000
330countryclubdrivegc
Visit here to view more information for this property
431 Saddlebrook Lane
Horse Creek Estates
Lot
$199,500
Horse Creek entrance
Visit here to view more information for this property
 
 
 
 
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Path to Buying a Home

Steps to Buy a Home

bv_pathtobuyingahome

Follow the Link above to follow the path to Buying a Home.  Continue reading

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Have a prosperous New Year, filled with Health, Wealth and Happiness


newyearsimage

Wishing you every happiness this Holiday Season and prosperity in the New year. I look
forward continuing our relationship in the coming year.

All the best to you and your family.

Kind Regards,

Karen Sweatlock

Karen Beach Headshot 2014 High Res

January Events 

January 3-5th: Downtown Naples New Year’s Art Fair, Fifth Avenue South, Naples A new year and new opportunities await at this well-established art festival, which draws more than 230 professional artists from around the country and is ranked as one of the 100 Best Fine Art Shows in the U.S. by Sunshine Artist Magazine.

January 7-25th: The Marco Island Players, Marco Island

In 2015, the Marco Island Players are celebrating 40 years of live performances! Kicking off their first theatre production of the New Year, “Becky’s New Car” will run from January 7-25, 2014. “Becky’s New Car” is a thoroughly original comedy with delicious deadpan humor and U-turn plot twists!  With evening and afternoon showings, please visit http://themarcoplayers.com/ for ticket pricing and information.
 
January 10-11th: National Art Festival, Bonita Springs
The Centers for the Arts Bonita Springs presents fine arts/fine crafts festivals each year in Bonita Springs.  Enjoy the artworks of 200 national and international artists on January 10-11, 2014 from 10am to 5pm, while supporting the many programs offered at the Centers for the Arts.  This show presents quality artwork resulting in the highest ratings by the National ranking services. View and buy artwork directly from the artists who produce the work! Festival proceeds go to support community art activities.  This event boasts the largest attendance of any event in Bonita Springs! For more information, please visit http://artinusa.com/bonita/
 
January 23-25th: The 2015 Naples Winter Wine Festival, Naples
Since 2004, the Winter Wine Festival has earned the distinction of being one of the most successful charity wine auctions in the nation according to Wine Spectator. The event brings many of the world’s finest vintners and chefs together with wine collectors and philanthropists for a three-day gala in Naples. Attendees fly in from all over the world to attend this amazing event! This year the event takes place on January 23-25, 2015. For a schedule of events and ticket inquiry, please visit http://www.napleswinefestival.com/
 
January 24-25th: Swamp Buggy Races, Florida Sports Park, Naples
Experience the world’s muddiest races as swamp buggy vehicles speed around the track known as the Mile O’ Mud. The Races, heralded as the World’s Muddiest, feature swamp buggies — which range from standard Jeeps with snorkels to giant monsters with NASCAR racing engines — navigating the famous Mile O’ Mud track. This figure-eight track is flooded with water, around 18 inches deep in most areas, but much deeper in the dreaded sippi holes, so as you can imagine it gets really messy.

Average Sales Price Up 10.5%; The Number of Available Properties Down

 
CLOSED SALES
On a rolling twelve month basis (not shown on the report), closings are up 7% and average sales price is up 10.5%. Year-to-date, the median sales price is up 8% over prior year, following a 12% increase from 2011 to 2012, and a 17% increase from 2012 to 2013. All price categories posted gains in the number of closed sales with the exception of properties priced under $250,000. The greatest increase was the segment priced above $1 million, which was up 27%
 
PENDED SALES
Pended sales above $2 million are up 38% year-to-date. Sales above $5 million almost doubled with 101 sales pended vs 52 in the same period 2013. Sales pended during the month of November are the highest on record for the month.
 
NEW LISTINGS/INVENTORY
On December 1, 2014, available inventory in the combined Naples, Bonita Springs and Estero market stands at 4,948 units (2,763 single family homes and 2,185 condominiums). This represents a 4.9 month supply based on the number of closings in the past 12 months. The number of available properties is down 12.5% from December 1, 2013.
 
Distributed by John R. Wood Properties’ 

Buyers Rush Luxury Market in November

 
Naples, Fla. (December 19, 2014) – Sellers in the luxury market can expect a very good buyer turnout in the coming months according to a consensus among Naples’ top brokers after they analyzed the November 2014 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales with Collier County (excluding Marco Island). Their prediction was based on several factors including overall pending sales activity, which rose 11 percent for homes priced over $1 million; overall closed sales activity, which increased 17 percent for homes priced over $1 million; and that the majority of homes sold in the $2 million and above category were cash sales.
 
“Pending and closed sales activity in all price categories above $300,000 was up over the past 12-month period ending in November,” said Tom Bringardner, Jr., President/CEO of Premier Commercial.
 
“Activity in the high end market is remarkable coming into season,” said Steve Barker, Advising Broker for Equity Realty. “The report indicated that a greater number of homes in the $2 million and above price category were sold [21] as compared to what sold in the same month last year [14]. This is a good sign for sellers in our market because people who have the resources to pay cash for million dollar homes are smart and careful investors. They are not going to make a poor investment decision, which speaks volumes for the value of our market.”
 
The November 2014 report showed heightened activity in several areas of the luxury market including a 40 percent increase in overall closed sales for single family homes priced $2 million and above from 202 in the 12-months ending November 2013 to 282 in the 12-months ending November 2014; an 11 percent increase in closed sales for condominiums priced $1 million- $2 million from 234 in the 12-months ending November 2013 to 260 in the 12-months ending November 2014; and a 35 percent increase in single family median home prices in the Naples Beach area from $739,000 in the 12-months ending November 2013 to $1,000,000 in the 12-months ending November 2014.
 
“Median price in the Naples Beach area single family home market can not continue to increase at the current rate indefinitely,” said Cindy Carroll, SRA, with the real estate appraisal and consultancy firm of Carroll & Carroll, Inc., who added that, despite aggressive activity in new construction, the report indicated that inventory in the resale market continued to decline. 
 
The NABOR® November 2014 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® November 2014 sales statistics are presented in chart format, including these overall (single-family and condominium) findings: 
Overall pending sales decreased 2 percent from 840 in November 2013 to 825 in November 2014.
  • Pending sales for single family homes in the $300,000-$500,000 price category increased 32 percent from 99 in November 2013 to 131 in November 2014. 
  • Pending sales for single family homes in the $2 million and above category increased 24 percent from 25 in November 2013 to 31 in November 2014.
  • Overall closed sales decreased 2 percent from 9,878 in the 12-months ending November 2013 to 9,635 in the 12-months ending November 2014.
  • Median closed price increased 12 percent from $236,000 in the 12-months ending November 2013 to $265,000 in the 12-months ending November 2014.
  • Median closed price for single family homes in the $2 million and above price category increased 50 percent month over month from $2,600,000 in November 2013 to $3,900,000 in November 2014.
  • Overall inventory decreased 10 percent from 4,584 homes in November 2013 compared to 4,136 homes in November 2014.
  • Average day on market for November is at 79. 
To read the entire article please visit here

Featured Listing 

River Oaks of Palm River
$799,000
380Sharwood
Visit here to view more information on this property.

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October 2014- It’s Time to Buy!

October 2014 Events: 

It’s Stone Crab Festival Time!

Naples

If you have not attended the Stone Crab Festival, you are truly missing out! A Naples favorite, the Stone Crab Festival is an action-packed weekend taking place at various locations on the historic Old Naples Waterfront, including Tin City, Bayfront, and Port-O-Call Marina.  Plenty of fresh, locally-harvested stone crab claws, fish and shellfish, live music, events, art, vendors and many fun activities for the entire family!  This year’s festival is taking place on October 24-26, 2014. It runs from Friday afternoon and evening through Saturday and Sunday from 10am to 5pm.  Admission is free! For more information, call (239) 594-2978 or visit http://www.stonecrabfestival.org/

1st Annual Naples Boat Show Downtown

Naples-Marco Island

This inaugural event takes place on October 4-5, 2014 from 10:00am to 5:00pm at the Naples City Dock and Crayton Cove; 880 12th Avenue South. The Naples Boat Show Downtown is owned and managed by the Marine Industries Association of Collier County and is the premier in-water recreational show in the Naples-Marco Island area. The show will feature displays by marinas, boat dealers, and other marine related businesses. Featured restaurants are Texas Tony’s, Crayton Cove restaurants, Bleu Provence, Chez Boet, The Dock Restaurant, and Napoli on the Bay Admission is free! For more information, visit http://www.miacc.org/

RiverFest Autumn Festival

Bonita Springs

A day of fun for all ages. The RiverFest Autumn Festival takes place in Bonita Springs on Saturday, October 18, 2014 at the Liles Hotel Plaza of Riverside Park, 27300 Old US 41 Road.  Activities include live music, hayrides, ponyrides, pumpkin patch, Imperial River canoe and kayak races, pumpkin decorating contest, petting zoo, cornhole contest, old-fashioned fish fry, a rubber duck race and more. This is a family-fun event that is sure to please everyone! For more information, call (239) 949-6262.


It’s Time to Buy! 
 
Naples, Bonita, Estero real estate market is hot and properties are still selling quickly and also for the month of October, Karen is offering a Home Warranty that values $390 with every listing, which covers you and your home while it is being marketed and passes on to your prospective buyer – a great incentive for the buyer of your home.
 
Contact Karen for more Details!!! 

The Sweatlock Team’s Closed Sales and Karen’s Featured listings of the month: 

Featured Listings:

213 Viking Way

Front

 

$489,000

Absolutely Gorgeous 3BR/2BA Pool home located on the La Playa Golf Course remodeled with all the upgrades & amenities you could wish for such as custom gourmet kitchen with granite counter tops & custom cabinets & stainless steel appliances plus custom bath vanities and lots of beautiful large tiles plus a 15 x 40 ft heated pool perfect for those who like to do laps & large lanai with summer kitchen. Entire home is complete with electric storm shutters with remotes including a generator. Close to NCH and less than 3 miles to the Gulf beaches.

492 Saddlebrook Lane

Front

$799,000

This gorgeous former Model open floor plan overlooks a nature preserve giving complete privacy. This 3 BR Plus Den 2 full baths and 2 half baths with heated pool and spa home has all the bells ans whistles such as crown molding throughout, accent recessed lighting, custom pecan color cabinetry and granite counter tops in kitchen and baths, diagonal large tiles throughout main living areas, central vac, monitored alarm system, dry bar, lots of closet space, storm shutters and much more! Less than 3 miles from the Gulf of Mexico and Vanderbilt sandy white beaches. Close to Mercado with fine restaurants and great shopping!

2389 Turnberry Court

Front

$1,099,000

Located in one of North Naples upscale neighborhoods and close to Mercado with fine restaurants and great shopping. Absolutely stunning private Lakefront views overlooking a fountain from the extra-large lanai with heated pool & spa. Custom built in 2000 and beautifully maintained 4 BR Plus Den 3.5 BA with open floor plan including summer kitchen – perfect for entertaining. Kitchen was recently upgraded with granite counter tops & several stainless steel appliances. Custom upgraded kitchen cabinets, 18″ ceramic tiles throughout main living area & Berber carpeting in bedrooms and den, security system are just some of the extras!

 

Closed Sales:

290 Emerald Bay Circle, Naples

EmeraldBay

$165,000


20090 Seagrove Street#2104, Estero

Grandezza

$210,000


404 Ashbury Way, Naples

Front

$309,000


138 Westwood Drive, Naples

138_Westwood_Dr-Front

$383,000


58 Heritage Way, Naples

Front

$428,000


5501 Heron Point Drive#902, Naples

5501_HERON_POINT_DR_902-Lanai

$545,000


11030 Gulfshore Drive #704, Naples

Gulfshore

$610,000


415 Sea Grove Lane #101, Naples

The Dunes

$689,000


9566 Gulf Shore Drive #PH 01, Naples

Vanderbuilt

$1,600,000


9 SUCCESS TIPS FOR YOUR STATEMENT DOOR MAKE-OVER

 
Which change to the street face of your home can dramatically up its value while expressing your delight as a homeowner?

Make a statement with a new front entry door.

Take advantage of developments in materials and technology to redesign or restate your main entry and you can benefit on many levels: add value, decrease energy costs, increase security, make a unique creative statement, and more…

Increase buyer traffic to increase the potential for a sale. When you’re preparing your home for sale, your real estate professional may offer cost-effective advice on which specific front entry style attracts the buyers you’re targeting.

Buyers who realize that listings with a no-statement front entry may be overlooked by other purchasers can gain an edge in even competitive markets.

If selling is not an immediate concern, set a practical budget compatible with expected value appreciation. A few quotations may help pin down what makes financial sense.

Once you’ve decided on new door specifics, attend a home or design show where door sellers offer special show prices and you may save hundreds or even thousands.

Take time to explore all your options before you dive in. For practical statement ideas, check out new homes and slightly more up-scale areas than yours if “door make-overs” have not hit your neighborhood yet. Decide which features of your home to accentuate and which entry style—traditional, classic, modern—best compliments your home’s style.

To view the entire article please visit here.

Article from Realtytimes.com

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August/September Updates: Naples listed as one of the Best Cities for Job Growth

August/September Events: 

August 23rd: Farmers’ Market on Third Street South

North Collier Regional Rampage 5K, 7:00am-12:00pm, 15000 Livingston Rd., Naples, FL 34109

August 6th-October 26th: 5th Anniversary Stonecrab Festival along the Gordon River, Downtown 5th Avenue, 1785 Fifth Ave. S., Naples, FL 34102

September 13th: September’s Summer Jazz On The Gulf at Naples Beach Hotel & Golf Club, 6:30-9:30pm, Watkins Lawn, 851 Gulf Shore Blvd. N., Naples, FL 34102

September 14th: Paradise Coast International Triathlon-Duathlon-10K Run, 7:00am-3:00pm, 4284 Avalon Dr., Naples, FL 34112

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Housing Market Shows Rising Prices in February

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April 2014
 
1 — April Fool’s Day
13 — Palm Sunday
15– Tax Day
18 — Good Friday
20 — Easter
22 — Earth Day
23 — Administrative Professionals’ Day
25 — Arbor Day

Featured Listing
 
Pelican Bay – St. Tropez 
 
Beautifully upgraded 2BR/2BA plus Den unit with sunset views of the Gulf of Mexico and Clam pass. Gorgeous new kitchen cabinets with granite countertops and granite bath vanities and hardwood flooring! Enjoy all the amenities of Pelican Bay with its private beach, tennis, fitness and steps from the boardwalk tram to beach restaurants! Close to Waterside Shops & the famous Mercato shopping center! 
 
Offered at $585,000
Image   Image  Image
 
 
Image  Image  Image
 
 
Bed/BA:  2BR/2BA
Year Built: 1988
Building Design: High Rise (8+)
2013 Taxes:  $3,025
MLS #: 214018001
Master HOA: $416 quarterly
HOA Fees: $1974 quarterly
Living Area: 1,290 
Total Area: 1,415
Water/Sewer: Central
Living/Dining: 24 x 16 x 13
Kitchen: 12.6 x 9
Den: 11 x 9.6 
Master Bedroom: 14.6 x 12.4
2nd Bedroom: 12 x 10
Porch: 16.6 x 11.8
Terrace: 15.6 x 6
Construction: Concrete Block/Stucco
 

Housing Market shows rising prices in February

An article from FloridaRealtors.org reported that, “higher median prices, more new listings, fewer days on the market and a stable level of inventory in February, according to the the latest housing data released by Florida Realtors.” A total of 15,826 were closed sales for single-family homes statewide, up 1.5 percent from February 2013. 
 
Distressed properties listed for sale are diminishing with a return of more of a traditional housing market. New listings for single-family homes in February rose 11.6 percent, while new townhome-condo listings rose 4.6 percent. 
 
“The statewide median sales prices for single-family existing homes last month was $165,000, up 10 percent from the previous year, according to data from Florida Realtors Industry Data & Analysis department in partnership with local Realtor boards/associations. The statewide median price for townhouse-condo properties in February was $132,500, up 15.2 percent over the year-ago figure. The median is the midpoint; half the homes sold for more, half for less.”
 
Also, according to the National Association of Realtors (NAR), “the national median sales prices for existing single-family homes in January 2014 was $188,900, up 10.4 percent from the previous year; the national median existing condo price was $188,700.” 
 
To read more of this article please visit www.floridarealtors.org
 

Study: U.S. housing recovery uneven across markets
 
“Over the next five years, the median price of single-family homes will approach the peach reached before the housing market tanked in 2006, predicts the Demand Institute, a nonprofit think tank run by The Conference Board and Nielsen.”
 
The institute predicts that some local markets will rebound faster than others, creating an unbalanced recovery.
 
The national median price is expected to grow at an annual rate of 2.1 percent from 2015 to 2018 driven primarily by new-household formation, according to the study. 
 
To read more of this article please visit www.floridarealtors.org 
 

Average 30-year mortgage rate falls to 4.32%

 
The average U.S. rates on fixed mortgages declined, getting closer to historically low levels. Freddie Mac said that the average rate for the 30-year loan fell to 4.32 percent from 4.37 percent. The average for the 15-year mortgage ease to 3.32 percent from 3.38 percent. 
 
“This increase was driven by speculation that the Federal Reserve would reduce its $85 billion-a-month bond purchases, which have helped keep long-term interest rates low. “
 
The National Association of Realtors reported, “that sales of U.S. existing homes slipped in February, the sixth decline in seven months as severe winter weather, rising prices and a tight supply of homes discouraged buyers.” 
 
There are still some signs that the market could pick up in the coming months. Sales improved in the South and West, where weather was less of a factor. 
 
To read more of this article please visit www.floridarealtors.org
 

Senate Passes Flood Insurance With House Amendments

 
On March 13, 2014, the United States Senate voted 72-22 to approve the Homeowner Flood Insurance Affordability Act (H.R. 3370). “The Senate acted quickly to pass the bill as amended by the House to avoid the need for a conference committee to reconcile any differences. The new bill further reins in and holds the Federal Emergency Management Agency (FEMA) accountable for the Biggert-Waters implementation issues.”
 
“As passed, the bill repeals FEMA’s authority to increase premium rates at time of sale or new flood map, and refunds the excessive premium to those who bought a property before FEMA warned them of the rate increase. The bill limits premium increases to 18% annually on newer properties and 25% for some older ones. Additionally, the bill adds a small assessment on policies until everyone is paying full cost for flood insurance. President Obama signed the bill into law on March 21, 2014. NAR had urged a swift vote in the Senate.”
 
To view the video click here.
 
This article was referenced from the realtor.org.
 

April Events in Naples
 
April 2nd — Dancing Under The Stars at Mercato 
 
April 4th — First Friday Arts Day at Waterside Shops
 
April 6th — Naples Music Festival, located on Third Street South. 239-434-6533
 
April 5th-6th — Marco Island Festival of the Arts, located at Veteran’s Park off North Collier Boulevard in Marco Island
 
April 10th — Evening on Fifth. Enjoy live music, shopping, dining, dancing on Fifth Avenue South. 
 
April 19th — Easter Egg Hunt at Naples Botanical, 9am to noon. Located at 4820 Bayshore Drive. 877-433-1874

 

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January 2014 data points to homebuying season early start/ March 2014 Newsletter

 Car Magnet 2013
March 2014
 
3 — National Anthem Day
4 — Mardi Gras
7 — World Day of Prayer
9 — Daylight Savings Time Begins
17 — St. Patrick’s Day
20 — Vernal Equinox/ First Day of Spring
 

Featured Listing
 
2389 Turnberry Court, Pelican Marsh 
Front
 
Kitchen  Living Room  Dining  Master Bedroom
                      Pool
Located in one of North Naples upscale neighborhoods and close to Mercato with fine restaurants and great shopping. Absolutely stunning private Lakefront views overlooking fountain from the extra-large lanai with heated pool & spa. Custom built in 2000 and beautifully maintained with open floor plan including summer kitchen–perfect for entertaining.
 
Offered at $1,250,000
BED/BA .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  4BR/3.5BA   
LIVING AREA .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 3,397
 YEAR BUILT  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .2000
MASTER BEDROOM .  .  .  .  .  .  .  .  .  .  . 20 x 15
 TOTAL AREA .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 4,943               2nd BEDROOM  .  .  .  .  .  .  .  .  .  .  .  .  .  . 16 x 12
 BUILDING DESIGN  .  .  .  .  .  .  .  Single Family               3rd BEDROOM.  .  .  .  .  .  .  .  .  .  .  .  .  .  .16 x 12
 WATER/SEWER  .  .  .  .  .  .  .  .  .  .  .  . Central
 4th  BEDROOM.  .  .  .  .  .  .  .  .  .  .  .  .  .  15 x 17
2012 TAXES  .  .  .  .  .  .  .  .  .  .  .  .  .  .  $11,442
LIVING ROOM  .  .  .  .  .  .  .  .  .  .  .  .  .  17 x 76
MLS #  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  214009358
DINING ROOM  .  .  .  .  .  .  .  .  .  .  .  .  .  21 x 12
DEN .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . .  15 x 12
KITCHEN  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  15 x 14
LANAI .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 30 x 61
FAMILY ROOM.  .  .  .  .  .  .  .  .  .  .  .  .  .19 x 16
GARAGE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  . 25 x 22

January 2014 data points to homebuying season early start

 
An article from Realtor.com, posed that 2014 homebuying season has begun on a positive note despite all of the sever weather conditions across the country. Data reveals that the median list price for January 2014 is 8.3 percent above levels from January 2013. The number of properties for sale is up 3.1 percent and the median age of inventory is unchanged, indicating a transition to a less frenzied market compared to January 2013.
 
“January’s start compared to year-ago levels is an encouraging sign of sellers’ interest, particularly given the adverse conditions brought on by the polar vortex,” said Errol Samuelson, president of Realtor.com. “We saw the tight-supply market of last fall carry all the way into November – later than is typically expected – and this early rise in inventory is a welcome trend. The sustained median list price growth supports the gains we saw last year, and sellers are responding with confidence in that consistency. We will continue to watch inventory movement in the coming months as we move further into typical seasonal patterns, but anticipate a more balanced buying market.”
 
The national median existing home price is projected to rise 5 to 6 percent in 2014, according to the National Association of Reatlors (NAR). 
 
To read more of this article please visit www.floridarealtors.org
 

Freshen Up Your Home, Spring has Sprung

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March is a great place to begin to get a fresh start around the house. Here is a checklist to get your house for Spring.
 
1. Clear the Kitchen. Completely declutter the kitchen surfaces and then scrub the countertops and walls. After this has been done, step back and admire how beautiful your kitchen looks without all the extra appliances and random clutter. Consider putting back only the items you use daily, and store the rest in your pantry or in your cabinets.
 
2. Clean out the pantry. If you have a fairly large pantry this task could take a few days. Break it down and do one shelf at a time. Toss expired food and purging of things you know you will never use or even donate them to a local food pantry. Consolidate! Pour the last few grains of rice into a new container and toss out the empty packages to make more room. 
 
3. Beautify your command center. The place in your kitchen or entryway is often the hub of all of your household activities and tends to be swamped with piles of paper and random clutter. Take time to clear the decks, file papers, log upcoming events in the calendar and put things away. Add something beautiful, a pretty cloth covered box to keep your papers tidy, a few small framed prints and or a potted plant.
 
4. Launder and mend soft furnishings. Early spring is a great time to clean soft furnishings, such as, slipcovers, pillow covers, curtains, shower curtains, etc. Either launder the smaller items at home or bring the larger pieces to a pro. 
 
5. Spring clean your wardrobe. Take the time to your through your entire wardrobe. Purge of the ill-fitting and unworn, and setting aside winter clothes that are ready to be cleaned and stored. If clothes have been stored away and are a bit stale, fluff them in the dryer before putting or hanging them up.
 
6. Clear clutter in the mudroom. Go through every shelf, cubby and drawer, and put away the things you are no longer using. Pull out that umbrella for spring showers! 
 
7. Spiff up the porch. Make it look more inviting. Inspect the floor and repaint if needed. Sweep away cobwebs, wipe down the mailbox and porch light. Freshen it up with a new doormat and put out a few plants.
 
8. Swap out storm windows for screens. This pertains to those who use storm windows in the winter and the worst weather has passed. Swap them out for screen doors and put up screens on all the windows.
 
9. Inspect the exterior. Inspect the roof, siding, gutters and yard. Call in a professional to repair any openings or for any needed repairs. 
 
Have any tips that we forgot? Feel free to share them with us. 
 
 

Tips are from Houzz.com

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Naples #1 in growth for jobs and economy

February 2014

February 2nd — Groundhog Day

February 7th — National Wear Red Day
February 12th — Lincoln’s Birthday
February 14th — Valentine’s Day
February 17th — Presidents’ Day
February 22nd — Washington’s Birthday
 

Naples #1 in growth for jobs and economy
 
Based on findings from USA today, Naples is forecast to lead metros in economic growth and job gains.  Naples will be the fastest-growing metro area in the country, with an economy expanding by 6.3%, the report sats. Naples will also add jobs faster than any other metro. Among larger cities, top performers include Raleigh, NC, expected to grow by 4.2%; Atlanta, 3.7% and Austin, at 3.6%.
 
“The key thing in the northeast was the stabilization of housing,” Diffley said. “When prices normalized and people weren’t underwater any more, small but positive job growth has been able to stimulate spending.”
 
To read the full article, please go to the link below: 

Annual Market Report for 2013 for Naples, Bonita, Estero market area
 
Closed Sales
The number of closed sales in 2013 continue the upward trend of the past 6 years, culminating in the highest number of sales on record. Average sales price increased 13% year over year and median sales price is up 18%.
 
Inventory Levels & New Listings
Inventory continues to decline in the Naples, Bonita & Estero markets. Condominiums priced from $500,000 to $750,000 and those priced between $2,000,000 and $5,000,000 experienced large decreases in availability, down 26% and 30% respectively. The number of properties placed on the market is down 41% from the 2006 high, and the second lowest on record.
 
Pended Sales
Buyer interest in Southwest Florida real estate pushed the number of pended sales to an all time record. All price categories reflected increased demand with the exception of entry level product priced below $250,000. Not all pended sales close, however, this benchmark, along with current inventory, has proven to be the best leading indicator of market direction.
 
2013 Quarterly Stats – Single Family Homes 1st Qtr          2nd Qtr         3rd Qtr          4th Qtr Median closed price (<$300K)    $175,167       $178,333        $182,650       $187,359 Median closed price (>$300K)    $549,667       $529,167        $515,000       $493,640 Closed sales                             1,014            1,359             1,148            1,027 Avg. days on market                 156               149                133                87 2013 Quarterly Stats – Condominiums 1st Qtr          2nd Qtr         3rd Qtr          4th Qtr Median closed price (<$300K)    $146,683       $151,000        $153,000       $158,833 Median closed price (>$300K)    $523,250       $581,667        $557,500       $526,250 Closed sales                             1,253            1,833             1,220             1,085 Avg. days on market                  496               515                440               317
 
Market Update provided by John R. Wood Properties, “Bring Your Highest Expectations!”
 

Pending Sales Tumble in December 
 
According to the National Association of Realtors in Washington, “Pending home sales measurably dropped in December, with abnormal weather partly inhibiting home shopping in much of the U.S.” The Pending Home Sales Index stated that it fell 8.7 percent to 92.4 in December from 101.2 in November, and is 8.8 percent below December 2012, when it was 101.3. 
 
Lawrence Yun, NAR chief economist stated, “Home prices rising faster than income is also giving pause to some potential buyers, while at the same time a lack of inventory means insufficient choice. Although it could take several months for us to get a clearer read on market momentum, job growth and pent-up demand are positive factors.” 
 
Pending home sales in the South fell 8.8 percent to an index of 104.9 in December and are 6.9 percent below what it was a year ago. Total existing-home sales this year should hold close to 5.1 million, but inventory remains limited in much of the country. 
 
To read the full article, please go to the link below: 
 
 
     
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